Welcome to the Dinar Observer – Daily. For regular Dinar Updates, to see what the Dinar Gurus have to say, Dinar to USD listings, IQD and for Iraqi Dinar info – THAT MATTERS!! This is a good place to start for your Daily Dinar Recap – whether you are a Dinar vet or just looking for a little current Dinar info – Welcome.

Word for the day…

Mrs. BGG

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CURRENCY CODE SELL BUY

Dinar to USD – Dinar Value – Iraqi Dinar “IQD” listing

http://www.cbi.iq/

Indicative rates – 02.04.2015

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Nature has planted in our minds an insatiable longing to see the truth. – Marcus Tullius Cicero

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*** Current Posts ***

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Randy Koonce – [any good news besides ink…hope with this RV is fading.] Why is it fading it is just getting to the end.
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tman23 – Article quotes:   “leave and Finance Minister Hoshyar Zebari for two consecutive months, aiming for surgery in the British capital London.”  “there are no confirmed on the replacement or dismissal from office Zebari and information but are waiting for the issuance of an official letter from the Iraqi government for permission in this regard.”   KEEP YOUR EYES ON THIS EVENT…IMO, THERE IS MORE TO IT, AND IT IS AN IMPACT SITUATION… GOOD, BAD, INDIFFERENT… IT IS HUGE!
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SteveI – Our sources are telling me Iraq is getting safer by the day. It will not take that much longer before ISIS is nothing but memories.

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Stryker – Iraq’s transition…into the Global Markets…is being accomplished as we type this very announcement…
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Backdoc – WE KNOW THAT SAUDI ARABIA HAS HALTED THEIR CURRENCY FROM BEING TRADED AS OF ABOUT 3 WEEKS AGO! SAUDI ARABIA HAS BEEN SELLING TREASURY BONDS AND SELLING OFF SOVEREIGN WEALTH FUNDS!  THEY HAVE BEEN SLASHING BUDGETS TO THE BONE AND THEY ARE POSSIBLY SELLING OFF A PART OF THE LARGEST OIL COMPANY IN THE WORLD! ARE THEY BUILDING RESERVES OR BUYING GOLD BEHIND THE SCENES IN PREPARATION OF SOMETHING? WHAT ARE THEY WAITING FOR? MMMMM…COULD THEY BE READY TO LAUNCH THEIR CURRENCY AT THE SAME TIME IRAN AND IRAQ LAUNCH AS WELL?  …TODAY IN IRAQ WE HAVE ARTICLES STATING IRAQ IS READY TO SELL THE DOLLAR!!
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Kaperoni – Article:  “Call for the adoption of an effective policy for the management of liquidity”  Quote:  “the size of the Iraqi economy requires all banking regulations, which indicate the movement of funds meticulously, pointing to the existence of sophisticated technology adopted by the international banks prefer to work on the transfer to Iraq in the coming period.”   I love this article because it says that in order to move to Article VIII, and freedom of movement of capital, the CBI must raise the level of the banking system and operate with “sophisticated technology” as adopted and preferred by international banks.  More importantly, it clearly implies that Article VIII (freedom of movement of capital) will occur in the “coming period.”  We can only hope that is within a few months.  BTW it fits with the IMF statement of 1st half of 2016.  
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Iraqi Dinar/Dollar auction (most recent listing) 02-02-15 

Currency Auctions Announcement No. 3128

This daily currency auction was held in the Central Bank of Iraq on the 02-02-2015

The results were as follows:

More: https://dinarupdates.com/observer/
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wmawhite – Remember…the IMF and the World Bank has been consulting numerous times throughout the years with Iraq (CBI, GOI, Parliament). They know more about Iraq than the Iraqis do and YET! Let’s say that again, YET! the IMF told the entire world that they expect Iraq to enter the economy market during the 1st half of 2016. …what I just posted is FACT…plain and simple…fact.
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rcookie – QUICK QUESTION…”IRAQ FAR FROM BEING A PARADISE AND A CESSPOOL“….WHY DURING THE GREATEST WAR AND CONFLICT WITH..MOST VIOLENT ABHORENT TERRORISTIC GROUP IN THE HISTORY OF MANKIND…DID THIS CESSPOOL ATTRACT OVER 5.5 MILLION RELIGIOUS VISITORS…AND BREAK EVERY VOLUME RECORD OF AIR TRAVEL IN IRAQS HISTORY…IN THE PROCESS.  [reference tman23 post 2-2-2016]
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tman23 – Much propaganda for “the return of Iraqi’s”…See the planes leaving Kurdistan and the boats arriving in Greece… See the citizens selling everything they have to get out of Iraq with their families…See Iraq working with Netherlands to “forceably” deport Iraq citizens back to Iraq… Sure some Iraqi’s fled to europe expecting streets paved in gold etc..etc…and where disappointed because they were not greeted with gift cards and gold…But no matter how much we all would like to see a RV…make no mistake…Iraq is far from being paradise… Quite frankly the fact is…it is a cesspool!
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Kaperoni – Article:  “The central bank is preparing to launch the e-dinar recommends depositing the salaries of all employees in banks ”  Big move for them technology wise. And surely necessary for the advancement of the banking system on a global scale.
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Mnt Goat – Article quote: “A government source revealed on Saturday that the government decided to raise the interest rate on deposit money in banks to 18%, attributing this to help the government in overcoming the financial crisis.”  WOW! So the average citizen will automatically also get 18% on their money.  Incidentally this also meets a goal recommended by the IMF to help them out of the liquidity problem. More money in the banks allows more money for the banks to loan out. With this new diversification effort the banks will need all the money they can get and this will bring billions of dinars into the banks. Do you think this effort might also raise the value of the dinar as it creates an automatic demand for it…this is such HUGE news… Remember I told you something BIG was brewing and now all of today’s news is telling us this BIG news.   [post 2 of 2]
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Mnt Goat – …the CBI has announced they are …launching the e-dinar (electronic dinar) payment system. This is planned to be used for the government to deposit the retirees, displaced salaries and salaries of the government employees automatically in their bank accounts. It will also tie into the SMART cards. What does this do for the financial reform?  – it forces the citizens to trust in the banks, something some day they too will take for granted.  – it cuts down on corruption and bribery  – it paves the way to ending the currency auctions.  – reduces the problems of handling cash (less of the 3 zero notes in circulation).   [post 1 of 2….stay tuned]
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Kaperoni – Article quote:   “citizens to the acquisition of national bonds, which will present soon, instead of relying on “hoarding money”…”   Well…this is more related to getting the 30 trillion or so out of the mattresses than anything else.  They are issuing bonds at a higher interest rate, 50k notes, and selling gold.  All are good…but fall short of the real need…deposit insurance.    They really need to start reducing the money supply (to strengthen the dinar) which will allow them to control the spread within the 2%.   We continue to watch and see.
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Mnt Goat – We have already seen Iraq being set up with the SWIFT code system (Society for Worldwide Interbank Financial Telecommunication code) An internationally-recognized identification code for banks around the globe. Just recently we witnessed news that Iran too was re-hooked back into SWIFT on Jan 31st. Is this coincidental that these articles are so close in proximity to each other?  So now we see Iraq working on their domestic systems. But they are not hooking them up instead they are instructing and teaching the banks how to use them. We witnessed the electronic system installations a very long time ago in Iraq.  These systems need to coordinate with the SWIFT system and this is what they are now doing. Is this amazing news or what? As [Guru] Millionday would say WOOOPOW! This is how close we are to the RV! ​
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Kaperoni – Article:  “The introduction of tariffs in all border crossing points”  Quote:  “the border crossings began work applying the tariff system on imported goods in all ports and airports, including the Kurdistan region outlets since the 16th of last month.”   Let’s hope the pressure starts.
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rcookie – [tax and tarriffs but no rate increase?]  NOT YET…BUT COMING…IMO.
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wmawhite –  [with taxes & tariffs being collected now, how realistic is it that we have to wait until almost the end of the first 6 months? Can Iraq last that long?]  I don’t know…however, think about it…who would know better about how long this and how long that? The IMF…and the WB.  But what is significant about entering the economy/global market? The status of the IQD must change. It must be Iraq primary means of conducting international commerce. When that happens, IMO, Iraq will not be able to do that at its artificial value.
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rcookie – [when do you think these auctions will stop?]  WHEN THE CBI & IMF FEEL THEY HAVE THE DIRE LIQUIDITY CRISIS WE READ ABOUT EVERY DAY IN A TENABLE STATE FOR THE NEXT STEP…THEY NEED CURRENCY…THE NEXT STEP WILL BE SOPPING UP THE USD FROM THE MARKET AS THEY TRANSITION FROM MCP…AND RETAILERS USE IQD FOR PURCHASE TRANSACTION PROCESS… [I thought they were trying to dry up the dollar already?] THEY ARE..BUT…LIQUIDITY IS DIRE.  [post 2 of 2]
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rcookie – I WAS READING SOME COMMENTS ABOUT THE WARKA BANK ANNOUNCEMENT…SOME THINKING THE INTERNATIONAL CURRENCY MEANT RATES.  [well it is an international bank.] IT IS…BUT 1 OF THE LARGEST PRIVATE BANKS IN IRAQ…THAT WAS PUT UNDER “GUARDIANSHIP STATUS” IN 2013 TO SUPERVISE THEIR INSOLVENCY…AFTER REHABILITATION & RESTRUCTURING…THAT GUARDIANSHIP WAS LIFTED THE OTHER DAY..ALLOWING THEM TO RE-ENGAGE IN BANKING ACTIVITIES INCLUDING THE AUCTIONS…AND VERY IMPORTANT IN REGARD TO THE MASSIVE BANKING SECTOR SHAKE UP GOING ON AS WE SPEAK…WITH THE PRIVATIZATION OF THE 2 BIG STATE BANKS.   [post 1 of 2….stay tuned]
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firefly – The HCL is NOT a requirement for any currency shift.  When the border tariffs are activated I’m pretty darn sure we will see what we have been waiting for!
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Millionday – …FEW DAYS AGO ABADI WAS GOING TO MEET WITH IMF AND THERE WAS TO BE AN ECONOMIC MEETING IN SWITZ — THIS IS AN ANNOUNCEMENT FROM ABADI`S OFFICE CONCERNING THE RESULTS:  “we have coordinated with the Bank and the International Monetary Fund to develop a plan to overcome the financial crisis.”   IT APPEARS THAT A PLAN HAS BEEN CREATED TO BRING IRAQ BACK TO A HEALTHY ECONOMY.  SO AS WE SEE THEY ARE MOVING FORWARD WITH THE WORLD BANK AND THE IMF IN IRAQ TO OVERCOME THE FINANCIAL CRISIS IN IRAQ.
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tlm724 – Article quotes:  “Oil Minister Adel Abdul Mahdi, in his speech at the forum that there is a national agreement on the importance of re-establishing national oil company, according to a deliberate steps legally and economically to return to the normal situation for the oil sector…and that is every citizen shares in this company…and the law of oil and gas that will be passed”  thats very encouraging…in line with what came in the Iraqi constitution, the people are going to get their share of the oil profits finally!  *hallelujah*  awesome to see them move forward!!
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